Q4 Outlook: A look at key issues, sectors as 2018 approaches
We believe there are opportunities in companies that continue to demonstrate strong fundamentals – despite the occasional distractions of the global news cycle.
Dyson, the U.K. company known for its vacuum cleaners and hand dryers, is entering the highly competitive electric vehicle market, reports Financial Times.
Founder James Dyson said the company, aided by two decades of experience in electric battery technology, will commit $2.68 billion to the development of a new automobile business. The company will allocate approximately half of the investment to developing the battery and the other half to the design and manufacturing of a vehicle line.
“We know this is a competitive market,” Dyson said, predicting this new division will quickly outgrow the rest of the company.
Dyson said the company intends to announce where the vehicle will be manufactured in the coming months with early speculation pointing toward the U.K. or Asia.
Dyson’s entry into the automobile space comes as more well-established manufacturers face mounting challenges, including self-driving technology and the rise of ride sharing. However, Dyson believes its development of solid state batteries —which can hold higher power and charge in less time than conventional lithium ion batteries — will give it an edge over rival brands. (Source: Financial Times)
Articles are chosen for summary in this Market Intelligence blog based on newsworthiness in conjunction with The Infinite Loop themes. Any opinions and views expressed in the articles are generally those of the underlying author from the source listed, are not necessarily current as of the date of this blog, may change as market or other conditions change, and may differ from views expressed by Ivy Investment Management Company and its associates or affiliates. Actual investments or investment decisions made by Ivy Investment Management Company and its affiliates will not necessarily reflect the views expressed in the articles. These articles are distributed for educational purposes only and are not investment advice or a recommendation to purchase, sell or hold any specific security mentioned in the article or to engage in any investment strategy. Investment decisions should always be made based on each investor’s specific financial needs, objectives, goals, time horizon and risk tolerance. Securities discussed may not be suitable for all investors.